You have an idea for a revolutionary new product. You have a target market already in mind and this product will solve all their problems, making you money in the process. Congratulations! Now here comes a reality check: 90% of startups fail. Why? It's not always due to a bad idea. You run the risk of getting looped into that dreaded 90% by not having a strong MVP.
Wait - don’t panic! We know what you’re thinking… What’s an MVP and how do I get a good one? Don’t worry, we got you.
An MVP, or Minimum Viable Product, is the first version of a product or service that you can release to users in order to compile feedback for future product development.
The MVP, sometimes referred to as the “minimum feature set”, represents the core functionality of the product, and gives the Entrepreneur an opportunity to assess feedback from actual customers, in order to develop a more robust version of the product later on. Unlike a prototype, the MVP is designed to test your product’s fundamental features with an actual target market.
Securing a strong MVP is the quickest and most cost effective way of getting your product into a successful test market to determine whether or not your product will actually be viable and profitable.
Amazon's MVP was a rudimentary online book store. Facebook's MVP was a basic social site created to help Harvard students stay connected online. Companies we now know to be giants all started off with a simple MVP in order to get their product in front of big time investors in as little time as possible.
The goal here is to avoid building out features that have no appeal to your actual customers. Unnecessary design and/or development work will eat your time and drain your budget.
It takes skilled designers and developers to bring your MVP to life. Choose a team that sets you up for success by providing the attention and professionalism that you and your product deserve. Ready to create? Click here to connect with us!
